Manhattan’s luxury real estate market closed out 2017 with a "sleepy post-Christmas Day week," according to Olshan Realty’s weekly luxury report released Monday.
Eleven contracts were signed for luxury properties—defined as those priced at $4 million and above—in Manhattan last week, according to the report, for a total sales volume of $146.41 million.
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Having another successful week was 432 Park Avenue, where a pair of neighboring penthouses went into contract, becoming the two priciest transactions of the week.
The 91st-floor condos, each with three bedrooms, three bathrooms and spanning almost 4,000 square feet, were priced at $40.25 million and $39.75 million. Theywere bought bya single buyer, accordingto the report. The Rafael Vinoly-designed tower is 96 stories high and offers amenities like a private restaurant, a fitness center and spa, a library, a billiards room and a screening room.
A total of eight contracts were signed at the building in December, the report said, including a trio of penthouses that sold to a single buyer for $91.25 million.
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The third most expensive contract signed during the last week of December was for a townhouse—the only house sold in Manhattan last week according to the report—asking a comparatively bargain $10.175 million. The five-story house on East 70th Street, is being flipped after closing for $9.35 million in May, property records show. Spanning 7,590 square feet, the home is divided into two units and needs a total renovation, according to Donna Olshan, president of Olshan Realty.
It’s not unusual to see a slow week following Christmas. Last year logged a similarly sluggish end when 15 contracts were signed for a total volume of $100.92 million.